7 Ways Artificial Intelligence Can Help Protect Us Against Online Fraud

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In the fight to protect our private data from cyberattacks and criminals, an increasing number of businesses are relying on artificial intelligence to identify problems before they start. Take a look at a few ways AI is helping insulate our data from online fraud, brought to you by Mental Floss and Discover.

1. AI can react immediately to suspicious activity.

When humans stop to review potentially suspicious transactions, it creates a delay between the time of the activity and when a consumer is notified about it. With AI, transactions that fall outside of normal spending habits can be flagged and an auto-notification given to the potential victim immediately. Quick intervention can help shut down any further transactions and restore control of an account back to the user. Until AI steps in, get a credit card that will help keep you in the know. Discover will alert you if it finds your Social Security Number on any of thousands of risky web sites or if new accounts are opened in your name on your Experian® credit report. It’s free for cardmembers to sign up for both alerts. Learn more at Discover.

2. AI can help spot fraudulent online ads.

Not all of the banners or clickable advertising online is legitimate, but that’s not always easy for the user to understand. Some ads may even link to legitimate sites or businesses to establish trust before switching to an illicit system designed to collect your private data. AI will help ferret out these links.

3. AI is helping humans do more work.

It’s a misnomer that AI can make complete evaluations of fraudulent activity without any human participation. While it can look at a larger set of data points, a good portion of the information it needs to “learn” comes from human-based investigation. With AI focused on statistics, employees can explore data the software is not yet aware of.

4. AI learns from a variety of businesses.

When an online merchant uses AI to examine information, it’s not a closed system. The software they choose to employ typically aggregates data from all of their business relationships. It’s looking at information from a spectrum of experiences to analyze and verify legitimate transactions. That’s especially good for small businesses that may not have the same wealth of knowledge to draw from as a larger entity. It’s also good for the consumer, who benefits from “smarter” machine learning no matter who they’re dealing with.

5. AI could make transactions faster, not slower.

When we think of online security, we often assume we’ll be subject to a number of verification prompts. But efficient AI programs can recognize when businesses are at higher risk of fraud and take appropriate steps to help those businesses reduce those threats. The result should be a more secure online experience that actually takes less time to navigate.

6. AI can assess where the most likely threats are coming from.

Like a digital fingerprint, IP addresses can help security experts identify regions where fraud seems to be prevalent. Even a transaction executed by an “anonymous” address is worthy of suspicion. By looking at areas where fraud is more likely to occur, AI can better isolate potentially illegal activity.

7. AI can help us identify social engineering hacks.

Not all attempts at fraud come from brute-force hacking. Many fraudulent transactions are the result of hackers posing as online merchants via email and asking for confidential information from the consumer. AI can learn language typical of these attempts and then dispatch a warning.

AI may be the path of the future, but there are still steps you can take to help protect yourself today. Discover will monitor thousands of Dark Web sites and alert you if they find your Social Security Number, or if new accounts appear on your Experian® credit report. The service is free for cardmembers who sign up and is a good first step to putting you in the know. Terms apply. Learn more at Discover.com.

This Smart Accessory Converts Your Instant Pot Into an Air Fryer

If you can make a recipe in a slow cooker, Dutch oven, or rice cooker, you can likely adapt it for an Instant Pot. Now, this all-in-one cooker can be converted into an air fryer with one handy accessory.

This Instant Pot air fryer lid—currently available on Amazon for $80—adds six new cooking functions to your 6-quart Instant Pot. You can select the air fry setting to get food hot and crispy fast, using as little as 2 tablespoons of oil. Other options include roast, bake, broil, dehydrate, and reheat.

Many dishes you would prepare in the oven or on the stovetop can be made in your Instant Pot when you switch out the lids. Chicken wings, French fries, and onion rings are just a few of the possibilities mentioned in the product description. And if you're used to frying being a hot, arduous process, this lid works without consuming a ton of energy or heating up your kitchen.

The lid comes with a multi-level air fry basket, a broiling and dehydrating tray, and a protective pad and storage cover. Check it out on Amazon.

For more clever ways to use your Instant Pot, take a look at these recipes.

At Mental Floss, we only write about the products we love and want to share with our readers, so all products are chosen independently by our editors. Mental Floss has affiliate relationships with certain retailers and may receive a percentage of any sale made from the links on this page. Prices and availability are accurate as of the time of publication.

The 5 Best Financial Gifts You Can Give Yourself This Holiday Season

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Between the gifts, parties, and other obligations of the holiday season, it might seem like smarter financial choices will have to wait. But just because you’re spending a little more than usual doesn’t mean you can’t put your financial planning into sharper focus. To help you get started, here are the best financial gifts you can give yourself this holiday season to prepare for a great 2020 and beyond, presented by Discover and Mental Floss. There are small steps you can take immediately to give your finances a boost, like using the Discover it card, which rewards you on every purchase you make with the card. And then there’s long-term planning, like retirement funds, that will help solidify your financial future.

1. Learn how to budget your money.

Plenty of people set spending limits on home expenses, entertainment, clothing, and other expenditures. But sometimes, these amounts need adjusting, especially as life and financial situations change over time. Consider sitting down at the end of the month and examining where all of your money went—from there you can spot unnecessary spending and find ways to fix it.

2. Take advantage of your credit card rewards.

Cash back, mileage, or promotional interest offers—credit cards offer a variety of incentives, but not everyone takes the time to analyze the offers. Don’t let free money pass you by—look into what rewards programs your card offers and take advantage of these financial gifts that are just waiting for you. With the Discover it card, for example, you can earn rewards on every purchase you make. Plus, Discover matches all the cash back you earn at the end of your first year! It’s unlimited, too, so those weekly coffees you’re trying to fit into your budget can be paid for by money you’ve already earned. Learn more at Discover.com/match.

3. Evaluate your insurance coverage.

Some of us secure home or car insurance and then never think about it again. It’s better to assess your coverage periodically to make sure you’re financially protected for things that are important and consider gap coverage if your policy is lacking. It’s better to spend a little more in policy premiums now than be hit with an unforeseen hardship later. Alternately, you might find your premiums can be lowered owing to a new home improvement project, like new water pipes or an updated roof.

4. Start a retirement plan.

Don’t fall into the trap of putting off retirement savings until you snag a salary increase or reduce expenses. Every year you fail to feed a 401(k), IRA, Roth IRA, or other nest egg means one less year you’ll accrue in your pursuit of saving for life after work. Remember that your employer may offer matching and tax-deferred options for diverting some of your income. Don’t wait for the “perfect” time to learn how to start a retirement fund—the sooner, the better.

5. Save for big purchases.

It can be hard to save money—it involves careful planning, a realistic strategy, and most importantly, cutting back a bit. But the benefits far outweigh the negatives. So if you don’t have one already, set up a savings account this holiday season and start putting some money away every month. It doesn’t even have to be you that does it—ask your bank or employer’s payroll department if they can set up an automated process to save the money for you. So next time you have your eye on a big trip or want to buy a new 4K television, you’ll have a nest egg waiting to pay for it. And big purchases lead to big cashback bonuses, so be sure to take advantage whenever you can.

You can take one step to financial stability with the Discover it® Card—which automatically matches all the cash back you earn, dollar for dollar, at the end of your first year. Learn more at Discover.com/match.